Bitcoin hit as Fed begins tapering

The fed’s move to taper bond purchases affected bitcoin’s recent rally. Photo: Avishek Das / SOPA Images/Sipa USA

The bitcoin (BTC-USD) price swooned on Thursday in London as investors digested the news that the US Federal Reserve plans to taper its $120bn (£88bn)-a-month in bond purchases. 

This marked the first tentative steps towards winding down its post-COVID money-printing programme that had spurred on many crypto bets — with investors buying bitcoin as a hedge against…


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